Mother Merrill has typically pulled people from inside its own ranks, but recent turmoil and departures could cause the board to look outside, sources told The Post.

The top internal candidate talked about yesterday was Co-President Greg Fleming, a Wall Street rainmaker who has run Merrill’s successful investment banking and mergers business.

Fleming, 44, is a 15-year veteran of the firm and led Merrill’s push into private equity. He also orchestrated the firm’s successful deal with money management firm BlackRock.

Ahmass Fakahany, Merrill’s former chief administrative officer, who was recently promoted along with Fleming to the co-president position, was also mentioned as a CEO candidate along with Robert McCann, who oversees Merrill’s 14,000 retail brokers.

Outside the firm, New York Stock Exchange chief John Thain is seen as an ideal candidate. He also has experience from being at the top of Goldman Sachs.

Other contenders include BlackRock founder Larry Fink and long shot candidateWarren Spector, who was ousted as Bear Stearns president and co-COO in August.